Kathmandu. Neco Insurance Company for the financial year 2082. The company has published its unaudited financial statements for the fourth quarter of FY83. According to the financial report, the company’s profit has decreased.
The company with a paid-up capital of Rs 2.77 billion in the review period had special reserve of Rs 2.45 billion, catastrophe fund of Rs 18.15 crore, retained earnings of Rs 36.5 crore and other equity of Rs 46.68 crore.
In the previous year, the company had collected Rs 2.31 billion in special reserves, Rs 167.1 million in disaster fund, Rs 76.77 crore in retained earnings and Rs 434.2 million in other equities.
During the review period, the company earned a net profit of Rs 3.29 billion. In the same period last year, the company earned a net profit of Rs 3.44 billion. The company’s total premium has increased by 4.31 percent in the review period compared to the previous year.
In the review year, the company earned a net insurance premium of Rs 1.94 billion. Compared to the previous fiscal year, the net insurance premium has increased by 2.09 percent. The company had earned Rs 1.
90 billion in net insurance premium in the same quarter of the previous year.
In the review period, the company spent Rs 1.35 billion through reinsurance. In the same period of the last FY, the company had spent Rs 1.54 billion through reinsurance. Compared to the previous year, the company spent less money on reinsurance during the review period.
The company earned a net profit of Rs 28.83 crore during the period under review. The company had posted a net profit of Rs 57.88 crore in the same quarter last year. The company’s profit declined in the review period compared to the previous year.
The company has EPS of Rs 10.40 per share. The net worth per share of the company is Rs 226.33.
